MODINET
ActiveMODINET has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €77k and a net result of €19k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 49% of 26057 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
86
/ 100
Excellent▲ +18 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+40
Solvency63▲+15
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.41 in 2023), but 68.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
31.7%
Return on assets
7.9%
Age of the figures
20 mo
lowers risk · Growing equity
Equity grew over 2022-2024. Profits are largely retained rather than distributed.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €77k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-08-2025, 1 day later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d late
2023
31 d late
2022
90 d late
2021
61 d late
2020
31 d late
2019
122 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€77k▲ 33.2%
2023 · €57k
2018: €-4k
2019: €2k
2020: €8k
2021: €11k
2022: €51k
2023: €57k
2018 → 2024
Total assets
€242k▲ 7.9%
2023 · €224k
2018: €66k
2019: €68k
2020: €88k
2021: €91k
2022: €213k
2023: €224k
2018 → 2024
Net result
€19k▲ 176%
2023 · €7k
2018: €-3k
2019: €6k
2020: €6k
2021: €3k
2022: €40k
2023: €7k
2018 → 2024
Working capital
€69k▲ 51.0%
2023 · €46k
2018: €-6k
2019: €671
2020: €6k
2021: €7k
2022: €39k
2023: €46k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€8k-€11k▲ 34.0%€51k▲ 377%€57k▲ 13.7%€77k▲ 33.2%
Operating result€7k-€3k▼ 57.6%€48k▲ 1,643%€11k▼ 77.2%€30k▲ 176%
Net result€6k-€3k▼ 56.2%€40k▲ 1,383%€7k▼ 82.7%€19k▲ 176%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 176% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €242k
Fixed assets
€55k▼ 16.5%
Current assets
€187k▲ 18.0%
Equity and liabilities €242k
Equity
€77k▲ 33.2%
Debt
€165k▼ 0.9%
The debt ratio falls from 74.3% to 68.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€41k▲
2023 · €22k
Cash flow
€30k▲
2023 · €18k
Solvency
31.7%▲
2023 · 25.7%
Current ratio
1.59▲
2023 · 1.41
Quick ratio
0.62▲
2023 · 0.26
Debt / equity
2.15▼
2023 · 2.90
ROE
25.0%▲
2023 · 12.0%
ROA
7.9%▲
2023 · 3.1%
Interest coverage
22.44▲
2023 · 9.08
Debt
€165k▼
2023 · €166k
Debt ≤ 1 year
€118k▲
2023 · €112k
Debt > 1 year
€47k▼
2023 · €54k
Income taxes
€10k▲
2023 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€224k€242k▲
Fixed assets21/28€66k€55k▼
Tangible fixed assets22/27€62k€52k▼
Plant, machinery and equipment23€51k€44k▼
Furniture and vehicles24€11k€7k▼
Financial fixed assets28€3k€3k=
Current assets29/58€158k€187k▲
Stocks and contracts in progress3€129k€114k▼
Stocks30/36€129k€114k▼
Amounts receivable within one year40/41€2k€978▼
Trade receivables40€2k€978▼
Cash at bank and in hand54/58€26k€69k▲
Deferred charges and accrued income490/1€906€2k▲
Equity and liabilities
Total equity and liabilities10/49€224k€242k▲
Equity10/15€57k€77k▲
Contributions10/11€19k€19k=
Reserves13€47k€66k▲
Distributable reserves133€47k€66k▲
Profit (loss) carried forward14€-8k€-8k▲
Amounts payable17/49€166k€165k▼
Amounts payable after more than one year17€54k€47k▼
Financial debts170/4€54k€47k▼
Amounts payable within one year42/48€112k€118k▲
Current portion of amounts payable after more than one year42€7k€7k▲
Trade debts44€11k€6k▼
Suppliers440/4€11k€6k▼
Taxes, remuneration and social security45€24k€33k▲
Taxes450/3€24k€33k▲
Other amounts payable47/48€71k€72k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k▼
Other operating charges640/8€384€477▲
Non-recurring operating charges66A€73€0▼
Gross operating margin9900€23k€42k▲
Operating profit (loss)9901€11k€30k▲
Financial income75/76B€1k€669▼
Recurring financial income75€1k€669▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€10k€29k▲
Income taxes67/77€3k€10k▲
Profit (loss) for the period9904€7k€19k▲
Profit (loss) for the period to be appropriated9905€7k€19k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1k€11k▲
Profit (loss) brought forward from the previous period14P€-8k€-8k=
Transfer to equity691/2€7k€19k▲
To other reserves6921€7k€19k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
29-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 90 days late
2022
31-12
Financial
Highest result since 2018net €40k ▲1383%
Operating result €48k, net result €40k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rampelberg 199310 AalstGround area
2,487 m²
Building footprint
48 m²
Volume, LiDAR
339 m³
2 parcels, Flanders · tallest building 14.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MODINET
since 20082.184.484.540
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41005C0196/00N000 | Flanders | 1,742 m² | - | - |
| 41002A1158/00M000 | Flanders | 745 m² | 1 · 48 m² | 14.2 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
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LCHY
BE 0500.608.486
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MASYBELLE
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Of 657 companies in sector 47715 we hold annual accounts for 186. 159 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-11-2008
Fiscal year end31-12
Activities, NACEBEL
47715Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.